No change in PSE index
By: Doris C. DumlaoThe Philippine Stock Exchange has kept the same roster of 30 companies comprising the main local stock market benchmark after the latest of twice-a-year index review.
The Philippine Stock Exchange has kept the same roster of 30 companies comprising the main local stock market benchmark after the latest of twice-a-year index review.
The tycoon Lucio Tan-led Philippine National Bank unveiled on Wednesday what it claimed to be the cheapest home loan deal available in the local banking industry, in a bid to expand its consumer loan portfolio.
The local stock index resumed its upswing Wednesday, re-testing recent record highs, as investors were emboldened by a recently concluded second bailout package for Greece.
Philippine Savings Bank, the thrift bank arm of the Metrobank group, grew its net profit last year by 12 percent to a record high P2 billion on higher lending and investment volume as well as improved loan margin.
Alaska Milk Corp. grew its fourth quarter 2011 net profit by 7 percent year-on-year to P432 million as higher volume during this strong season offset tighter margins.
SM Development Corp. grew its net profit last year by 38 percent to P4.18 billion on a double-digit surge in revenues from residential development projects.
Shang Properties Inc. is investing about P37.5 billion in three big-ticket projects in the Philippines, reflecting the optimism of the Kuok group on the country’s upscale property market.
Property giant Ayala Land Inc. has mapped out a capital restructuring program to obtain leeway to take in more foreign investors in light of a more stringent Supreme Court ruling on the definition of “equity.”
The local stock index pulled back from a new record high on Tuesday but stayed afloat at the 4,900 mark while investors reassessed recent gains.
Pepsi-Cola Products Philippines Inc. has named energy industry veteran Oscar Reyes, concurrently the chief operating officer of Manila Electric Co., as its new chairman as part of a crucial management revamp.
An American gambling firm, using findings of a probe by a former head of the Federal Bureau of Investigation, has accused Japanese gambling tycoon Kazuo Okada of making improper cash payments and gifts totaling about $110,000 to gaming regulators, including those in the Philippines.
The local stock index on Monday surged closer to 5,000 as regional sentiment turned bullish over hope for a second bailout package for Greece as well as fresh monetary easing in China.
